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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) has returned 3.50% so far this year and 34.17% over the past 12 months. Over the last ten years, PDN has returned 8.23% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF
- 1D
- 3.25%
- 1M
- -8.12%
- YTD
- 3.50%
- 6M
- 7.50%
- 1Y
- 34.17%
- 3Y*
- 15.65%
- 5Y*
- 6.49%
- 10Y*
- 8.23%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Sep 28, 2007, PDN's average daily return is +0.03%, while the average monthly return is +0.58%. At this rate, your investment would double in approximately 10.0 years.
Historically, 57% of months were positive and 43% were negative. The best month was Apr 2009 with a return of +17.6%, while the worst month was Oct 2008 at -18.4%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PDN closed higher 53% of trading days. The best single day was Oct 28, 2008 with a return of +9.8%, while the worst single day was Mar 12, 2020 at -11.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.22% | 6.05% | -8.12% | 3.50% | |||||||||
| 2025 | 3.16% | 1.68% | 1.74% | 4.94% | 5.71% | 5.81% | -0.63% | 4.75% | 2.16% | -0.12% | 1.80% | 2.14% | 38.34% |
| 2024 | -2.97% | 1.51% | 3.36% | -2.83% | 4.88% | -2.70% | 4.89% | 2.27% | 2.14% | -6.37% | 0.49% | -3.36% | 0.57% |
| 2023 | 7.56% | -3.42% | 1.58% | 1.71% | -4.38% | 3.09% | 4.74% | -3.16% | -4.75% | -3.83% | 8.17% | 6.60% | 13.35% |
| 2022 | -4.74% | -0.59% | -0.41% | -6.67% | 1.27% | -9.84% | 5.39% | -5.05% | -11.47% | 4.41% | 12.30% | -1.01% | -17.35% |
| 2021 | 0.07% | 2.36% | 3.83% | 3.57% | 2.53% | -1.05% | 0.42% | 1.22% | -3.02% | 2.24% | -6.74% | 3.81% | 9.03% |
Benchmark Metrics
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF has an annualized alpha of -0.61%, beta of 0.82, and R² of 0.62 versus S&P 500 Index. Calculated based on daily prices since October 01, 2007.
- This ETF participated in 100.07% of S&P 500 Index downside but only 88.09% of its upside — more exposed to losses than it benefited from rallies.
- Alpha
- -0.61%
- Beta
- 0.82
- R²
- 0.62
- Upside Capture
- 88.09%
- Downside Capture
- 100.07%
Expense Ratio
PDN has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PDN ranks 90 for risk / return — in the top 90% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and compare them to a chosen benchmark (S&P 500 Index).
| PDN | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 0.90 | +1.15 |
Sortino ratioReturn per unit of downside risk | 2.78 | 1.39 | +1.40 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.21 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.40 | +1.55 |
Martin ratioReturn relative to average drawdown | 11.91 | 6.61 | +5.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore PDN risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF provided a 3.29% dividend yield over the last twelve months, with an annual payout of $1.42 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.42 | $1.42 | $1.06 | $1.02 | $0.79 | $0.89 | $0.62 | $0.83 | $0.61 | $0.83 | $0.58 | $0.53 |
Dividend yield | 3.29% | 3.36% | 3.36% | 3.16% | 2.68% | 2.42% | 1.79% | 2.60% | 2.21% | 2.42% | 2.16% | 2.06% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.28 | $0.28 | |||||||||
| 2025 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.51 | $1.42 |
| 2024 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.34 | $1.06 |
| 2023 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.27 | $1.02 |
| 2022 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.11 | $0.79 |
| 2021 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.37 | $0.89 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF was 59.32%, occurring on Mar 9, 2009. Recovery took 467 trading sessions.
The current Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF drawdown is 8.12%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -59.32% | Nov 2, 2007 | 338 | Mar 9, 2009 | 467 | Jan 12, 2011 | 805 |
| -41.94% | Jan 29, 2018 | 541 | Mar 23, 2020 | 186 | Dec 15, 2020 | 727 |
| -33.68% | Sep 7, 2021 | 278 | Oct 12, 2022 | 641 | May 5, 2025 | 919 |
| -24.21% | May 3, 2011 | 274 | Jun 1, 2012 | 224 | Apr 25, 2013 | 498 |
| -20.59% | May 18, 2015 | 188 | Feb 12, 2016 | 251 | Feb 10, 2017 | 439 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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